Assessing the long-term economic benefits of improved pension communication strategies in northwest Nigeria

Abstract

This study investigates the long-term economic benefits of improved pension communication strategies in Northwest Nigeria. Using a cross-sectional survey design, data were collected from 500 respondents, including individuals in the formal and informal sectors and pension administrators across Jigawa, Kaduna, Kano, Katsina, Kebbi, Sokoto, and Zamfara states. Stratified and random sampling techniques ensured a representative sample, while structured surveys, interviews, and focus group discussions provided both quantitative and qualitative data. Quantitative data analysis was conducted using SPSS, employing descriptive and inferential statistical techniques such as regression and chi-square tests. The findings reveal a strong positive relationship between pension communication strategies and economic benefits, with an R-squared value of 0.954, indicating that 95.4% of the variation in economic benefits is explained by the effectiveness of communication strategies. The study highlights that while pension communication strategies are moderately effective on average, substantial variability exists in the economic benefits experienced across different regions and demographics. The regression coefficient (1.604) emphasizes that improvements in pension communication significantly enhance economic outcomes. The study concludes that effective pension communication is critical for improving economic security in Northwest Nigeria. Recommendations include tailoring strategies to underserved populations, leveraging technological tools, and implementing regular evaluations to optimize communication programs.